A Review of Short Term Interest Rates of Tokens in the Ethereum Defi Space, Why They Exist and How to Interact with Those Smart Contracts
by Akash Patel
This a review of the current interest rate economics in the Ethereum space. A quick look at loanscan.io will show tons of projects interacting with each other to create lending and borrowing opportunities. We are here to review why they exist and show on a practical level how to interact with these smart contracts. Most use cases will be earning a high-interest rate or getting a loan of a cryptocurrency.
How do you make sure your money is safe, what risks are you taking, how is this different than lending/borrowing money in the ""real"" world? We will go through a practical example of taking USD and entering the crypto world, interacting with a smart contract and earning interest. The hope is to teach anyone to do this in 10 minutes.
